Mi India announces ‘Grow with Mi’ to foster Retail Entrepreneurship; pledges INR 100 Crore
India: Mi India, country’s No.1 Smartphone and Smart TV player, today announced its new initiative - Grow With Mi (GWM). With this initiative, the company is planning to double the number of offline retail touch points as well as number of exclusive retail stores in India.
- Today Mi India has over 15,000 retail touch points, out of which 3000+ are Mi Stores that are exclusive retail stores for our Mi and Redmi products. These are spread across all states, districts and towns in India. As per the Channel Play report, this is the largest exclusive retail network in the country for physical goods.
- Mi India will double the total number of touchpoints to over 30,000 in the next one year. This is in-line with the company’s mission to democratize access to technology for everyone
- Mi India will also double the number of exclusive Mi Stores from 3000+ to 6000+ over the next two years.
- A support package of INR 100 crore has been planned to help the retail partners set up and run these stores over the next two years.
- GWM aims to foster retail entrepreneurship in the country especially in rural markets and will create employment opportunities for over 10,000 Indians.
Under the GWM initiative, Mi India will also introduce Mi Retail Academy wherein entrepreneurs from different backgrounds will be nurtured and trained starting from product training to sales training, customer management to polishing other soft skills such as marketing, in-store designing, customer service, retail excellence, etc.thus empowering them with technical knowledge and enhancing their business acumen.
Commenting on the initiative, Manu Jain, MD at Mi India said, “We are extremely delighted to announce the Grow With Mi today. It is a comprehensive retail exercise that will not only foster entrepreneurship but will co-lead an evolution that democratizes access to tech for Mi Fans and consumers across the country. With this new initiative, we are determined to expand our presence and reach out to our customers in the convenience of their hometowns. We are confident that the new initiative will significantly contribute to our offline retail presence and also will help prospective entrepreneurs from small towns and villages to embark on their journey of success.”
Speaking on the initiative, Muralikrishnan B, COO, Mi India, “Mi India started as an online first brand, and today we have the largest exclusive brand retail network in India. We commenced our offline journey in 2016 and have so far managed to create 15,000+ retail touchpoints that include 75+ Mi Homes and 3000+ Mi Stores, thereby bringing world class retail experience to various towns and cities in India. We are determined to scale bigger heights together with our Partners and Mi Fans growing our presence to over 30000 retail touchpoints by next year. With our new initiative - Grow with Mi, we will further expand our retail presence by doubling the number of Mi stores over the next 2 years. We also intend to extend the Mi Store on Wheels format to cover other far corners in the country and bring the best in class Mi Store showroom experience in areas that have limited access.”
Mi India has been the #1 smartphone brand for 14 consecutive quarters and currently has 75+ Mi Homes, 75+ Mi Studios, 9400+ Mi Preferred Partners and 4000+ Large format Retail partners along with 3000+ Mi Stores. During last year’s pandemic led lockdown, Mi India also launched its first omni-channel solution - Mi Commerce as a special initiative with the intent to blur online and offline boundaries. Designed as a hyper-local product discovery solution, Mi Commerce offers a rich shopping experience while regulating crowds, maintaining social distancing and ensuring the safety of the consumer and the retailer at Mi Stores.
About Xiaomi Corporation
Xiaomi Corporation was founded in April 2010 and listed on the Main Board of the Hong Kong Stock Exchange on July 9, 2018 (1810.HK). Xiaomi is an internet company with smartphones and smart hardware connected by an Internet of Things (IoT) platform at its core.
With an equal emphasis on innovation and quality, Xiaomi continuously pursues high-quality user experience and operational efficiency. The company relentlessly builds amazing products with honest prices to let everyone in the world enjoy a better life through innovative technology.
Xiaomi ranked 3rd globally in terms of smartphone shipments in the fourth quarter of 2020. The company has also established the world’s leading consumer AIoT (AI+IoT) platform, with 324.8 million smart devices connected to its platform, excluding smartphones and laptops. Xiaomi products are present in more than 100 countries and regions around the world. In August 2020, the company made the Fortune Global 500 list for the second time, ranking 422nd, up 46 places compared to 2019. It also ranked 7th among internet companies.
Xiaomi is a constituent of the Hang Seng Index, Hang Seng China Enterprises Index, Hang Seng TECH Index and Hang Seng China 50 Index.
Mi India is the number 1 smartphone player since Q3 2017 as per IDC Worldwide Quarterly Mobile Phone Tracker, February 2021 release.
Mi India is the number 1 Smart TV brand since Q2 2018 as per IDC Worldwide Quarterly Smart Home Device Tracker, December 2020.